Ruth Mahoney Sells 5,000 Shares of NBT Bancorp (NASDAQ:NBTB) Stock

NBT Bancorp Inc. (NASDAQ:NBTB) EVP Ruth Mahoney sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $46.60, for a total transaction of $233,000.00. Following the completion of the transaction, the executive vice president owned 16,428 shares in the company, valued at $765,544.80. This represents a 23.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

NBT Bancorp Stock Performance

NASDAQ:NBTB opened at $46.41 on Monday. The company has a fifty day moving average of $44.78 and a 200 day moving average of $43.68. NBT Bancorp Inc. has a 52 week low of $39.19 and a 52 week high of $47.07. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $2.41 billion, a P/E ratio of 13.22 and a beta of 0.49.

NBT Bancorp (NASDAQ:NBTB) last announced its quarterly earnings results on Thursday, April 23rd. The bank reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.01). NBT Bancorp had a return on equity of 11.06% and a net margin of 19.59%.The firm had revenue of $184.48 million during the quarter, compared to the consensus estimate of $185.36 million. On average, research analysts predict that NBT Bancorp Inc. will post 4.15 earnings per share for the current year.

NBT Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be paid a $0.37 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.48 annualized dividend and a dividend yield of 3.2%. NBT Bancorp’s dividend payout ratio (DPR) is presently 42.17%.

Analysts Set New Price Targets

A number of research analysts have commented on NBTB shares. Weiss Ratings raised NBT Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Brean Capital cut NBT Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 20th. Hovde Group decreased their target price on NBT Bancorp from $47.00 to $46.50 and set a “market perform” rating for the company in a report on Monday, April 27th. DA Davidson reiterated a “buy” rating and issued a $52.00 price target on shares of NBT Bancorp in a report on Monday, April 27th. Finally, Piper Sandler started coverage on shares of NBT Bancorp in a report on Monday, March 16th. They issued an “overweight” rating and a $50.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $49.50.

Hedge Funds Weigh In On NBT Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its holdings in shares of NBT Bancorp by 1,645.9% during the second quarter. EverSource Wealth Advisors LLC now owns 646 shares of the bank’s stock valued at $27,000 after purchasing an additional 609 shares during the last quarter. Larson Financial Group LLC grew its stake in shares of NBT Bancorp by 13,316.7% in the 3rd quarter. Larson Financial Group LLC now owns 805 shares of the bank’s stock worth $34,000 after buying an additional 799 shares during the last quarter. Bessemer Group Inc. grew its stake in shares of NBT Bancorp by 63.8% in the 1st quarter. Bessemer Group Inc. now owns 832 shares of the bank’s stock worth $35,000 after buying an additional 324 shares during the last quarter. Western Wealth Management LLC bought a new position in NBT Bancorp during the 1st quarter valued at approximately $37,000. Finally, Global Retirement Partners LLC increased its position in NBT Bancorp by 62.5% during the 4th quarter. Global Retirement Partners LLC now owns 1,037 shares of the bank’s stock valued at $43,000 after buying an additional 399 shares in the last quarter. Institutional investors own 58.46% of the company’s stock.

NBT Bancorp Company Profile

NBT Bancorp, Inc (NASDAQ: NBTB) is the bank holding company for NBT Bank, N.A., a full-service commercial bank that serves both individual and corporate clients across the Northeastern United States. Through its branch network and digital channels, the company offers a comprehensive range of commercial banking services, including business lending, treasury management, cash management and specialized industry financing. Its consumer banking platform provides checking and savings accounts, certificates of deposit, home mortgages, home equity lines of credit and other lending solutions tailored to meet personal and household financial needs.

In addition to traditional banking, NBT Bancorp delivers wealth management and fiduciary services through its trust division, offering investment advisory, trust administration, retirement planning and estate settlement.